All authors are from the Wharton School, University of Pennsylvania. We appreciate helpful comments from Gus De Franco, Ted Goodman, David Larcker, Dawn Matsumoto, Andrew Metrick, Randall Morck, Shiva Rajgopal, Scott Richardson, Terry Shevlin, D. Shores, Ran Wei, Min Wu, an anonymous referee, and seminar participants at Arizona State University, the University of Delaware, the University of Maryland, the University of Pennsylvania, the University of Technology Sydney, the University of Washington, the 2004 American Accounting Association meetings, the 2004 NBER Summer Institute, and the Sixth Maryland Finance Symposium. We are grateful to Paul Gompers, Joy Ishii, and Andrew Metrick for sharing the data on shareholder rights and I/B/E/S for the analyst data. We appreciate financial support from the Wharton School. Tjomme Rusticus is also grateful for financial support from the Deloitte & Touche Foundation. All remaining errors are our own.
Does Weak Governance Cause Weak Stock Returns? An Examination of Firm Operating Performance and Investors' Expectations
Version of Record online: 9 MAR 2006
© 2006 the American Finance Association
The Journal of Finance
Volume 61, Issue 2, pages 655–687, April 2006
How to Cite
CORE, J. E., GUAY, W. R. and RUSTICUS, T. O. (2006), Does Weak Governance Cause Weak Stock Returns? An Examination of Firm Operating Performance and Investors' Expectations. The Journal of Finance, 61: 655–687. doi: 10.1111/j.1540-6261.2006.00851.x
- Issue online: 9 MAR 2006
- Version of Record online: 9 MAR 2006
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